Burney Co. boosted its holdings in AT&T Inc. (NYSE:T) by 45.1% in the 2nd quarter, Holdings Channel reports. The firm owned 314,321 shares of the technology company’s stock after purchasing an additional 97,677 shares during the period. Burney Co.’s holdings in AT&T were worth $10,093,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Price Wealth Management Inc. increased its position in shares of AT&T by 165.1% in the second quarter. Price Wealth Management Inc. now owns 3,314 shares of the technology company’s stock valued at $106,000 after acquiring an additional 2,064 shares during the period. CKW Financial Group increased its position in shares of AT&T by 105.0% in the second quarter. CKW Financial Group now owns 4,215 shares of the technology company’s stock valued at $135,000 after acquiring an additional 2,159 shares during the period. Braun Bostich & Associates Inc. purchased a new position in shares of AT&T in the first quarter valued at about $137,000. Cerebellum GP LLC purchased a new position in shares of AT&T in the second quarter valued at about $178,000. Finally, Stevens First Principles Investment Advisors increased its position in shares of AT&T by 38.6% in the second quarter. Stevens First Principles Investment Advisors now owns 6,286 shares of the technology company’s stock valued at $202,000 after acquiring an additional 1,751 shares during the period. 63.61% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on T. Cowen upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $34.00 to $36.00 in a research report on Monday. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Zacks Investment Research cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Wells Fargo & Co cut shares of AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 price objective on the stock. in a research report on Wednesday, August 22nd. Finally, Bank of America set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.42.
Shares of NYSE T opened at $30.53 on Friday. AT&T Inc. has a 1 year low of $28.85 and a 1 year high of $39.33. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $188.65 billion, a P/E ratio of 10.01, a P/E/G ratio of 1.69 and a beta of 0.44.
AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The company had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. AT&T’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 3.51 EPS for the current fiscal year.
In related news, Director Michael B. Mccallister purchased 4,000 shares of AT&T stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the transaction, the director now directly owns 7,361 shares of the company’s stock, valued at $214,499.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.
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AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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